Daily General Discussion – August 4, 2022 (GMT+0)

**Welcome to the Daily General Discussion thread. Please read the disclaimer and rules before participating.**

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###Disclaimer:

Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known “pump and dump (PnD) groups” for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

**Please be careful about what information you share and the actions you take.** Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

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###Rules:

– All [sub rules]( apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
– Discussion topics must be related to cryptocurrency.
– Behave with civility and politeness. Do not use offensive, racist or homophobic language.
– Comments will be sorted by newest first.

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– [**Beginner Resources**](

– [**Intro to r/Cryptocurrency MOONs 🌔**](

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– [**r/CryptoCurrencyMemes**](

– [**Prior Daily Discussions**]( – (Link fixed.)

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47 thoughts on “Daily General Discussion – August 4, 2022 (GMT+0)”

  1. My 85% BTC 10% ETH 5% Layer 1’s portfolio is down probably 60%. How long would you think I’d need to HODL to get back in green? 6 months? 2 Years?

    Reply
  2. If the gif proposal is accepted this sub will be full of spam 24/7. I hope this one doesn’t pass. What’s your opinion?

    Reply
  3. I ve buying only BTC, ETH & BNB for a couple of months. I’m thinking to get some AAVE, what do you think of it? Everything that I ve read pushes me towards grabbing some. I don’t hold any at the moment.

    Reply
  4. I take a break from reddit for one day, and then I see we have 3 new CCIP proposals to vote for.

    Is it only 3? I used the searchbar but it only showed CCIP 34, 36, and 38. Some numbers were skipped?

    Reply
  5. Last September I bought 1k ADA at $3 a coin. It’s been a long road.. but by making weekly buys I’ve averaged down to $1.40. I will continue to average down. DCA’ing can help your position drastically..

    Reply
  6. What do the shower symbols mean? Those who have them earned a lot of moons this month, and clearly need to touch grass?

    Edit: ayyy I have one

    Reply
  7. I feel like altcoins are holding up a little too well during this bear market. I’m curious to see if or how that changes after Ethereum completes its update.

    Reply
  8. Do a lot of people have accounts on multiple exchanges?

    I’m assuming the same laws and rules would apply to stock exchanges as do crypto… Just wondering how much money is lost / gained from buying on one exchange, transferring from one wallet to resell on another.

    I’m guessing this is why the counterbalancing happens between price of an asset on different exchanges… People see the price difference and the market adjusts.

    For exchanges that support a currency first, doesn’t that give its users an unfair edge for trading?

    I understand that each exchange has an artificial transfer fee that doesn’t reflect the true currency’s to combat this.

    Just wondering everyone’s thoughts on this.

    Reply
  9. I bought 20€ worth of SHIB. I see this as just betting on something in a casino. As long as I also stick to my DCA plan for ETH and BTC and only use disposable small amounts, I can indulge in this degenerate gambling occasionally

    Reply
  10. I actually don’t know what I was doing before I went into crypto. What was I spending my time doing 🤣

    Reply
  11. News about FLOW slowly getting out. Theyve partnered with Instagram. They must have serious connections to pull that off ahead of other chains.

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  12. Just imagine the amount of buying pressure will happen when ETH is actually getting close to BTC market cap. It’ll be an insane race

    Reply
  13. I use a smaller exchange to onboard fiat into crypto before moving it around to other platforms. My smaller exchange is discontinuing a few coins soon.

    Obviously LUNC & UST are on there but I am also seeing they are getting rid of ONE, EGLD and AMP.

    Reply
  14. 20 more days until I go on holidays. Can’t wait. The countdown widget chart is what I’ll be looking at 🤣

    Reply
  15. Markets seem to be rational again so we bottomed. For stocks if they have bad earnings they tank, good numbers and they go up. Used to be they went up no matter what, then went down no matter what.

    Reply
  16. Question about staking: I’m currently hodling a bunch of crypto in Coinbase pro and Binance because of the huge crash. Have Matic, ADA, ETH, BTC, SOL, and a couple more. While I hold until the market comes back how can I earn money via staking? Like what’s the best app/process to use? Feel dumb just letting that money sit

    Reply

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